Genting Singapore
20 May 2019
SINGAPORE (May 20): Genting Singapore independent director Koh Seow Chuan has been a board member since 2008. However, judging from his past behaviour, the retired renowned architect prefers not to hold shares in the company. According to a May 13 filing with the stock exchange, Koh sold all his 125,000 shares on May 10. The shares were awarded to him less than three months ago as part of the ...
SINGAPORE (May 9): Genting Singapore (GENS) reported 1Q19 earnings fell 5% to $205.5 million from $217.2 million in 1Q18.
This came on the back of a 5% drop in revenue to $640.4 million from $675.1 million last year, mainly due the group’s gaming business in Resorts World Sentosa experiencing an 8% y-o-y drop in revenue to $430.2 million.
This was partially offset by higher revenue from ...
SINGAPORE (Apr 3): Genting Singapore is committing to an investment of some $4.5 billion for the expansion of the integrated resort (IR) at Resorts World Sentosa (RWS), which will see the property increase its gross floor area by approximately 50%.
In view of the substantial investment and to provide business certainty, the government has agreed to extend the exclusivity period for the two ...
22 Feb 2019
SINGAPORE (Feb 22): Maybank Kim Eng, OCBC Investment Research, RHB Research and CGS-CIMB Research are maintaining their “buy” calls on Genting Singapore (GENS) with the respective target prices of $1.26, $1.31, $1.22 and $1.28.
This comes after GENS’s latest set of FY18 financials fell slightly short of, or came in at the lower-end of the first three research houses’ ...
21 Feb 2019
SINGAPORE (Feb 21): Genting Singapore (GENS) announced earnings of $150.2 million for the 4Q ended Dec 2018, rising 12% y-o-y from its earnings of $134 million in 4Q17 due to higher revenue.
This brings the group’s earnings for the full year to $755.4 million, up 10% from $685.6 million in the previous year.
Revenue for the latest quarter under review grew 15% on-year on the back of ...
18 Feb 2019
SINGAPORE (Feb 18): RHB Research is maintaining Genting Singapore at “buy” with target price of $1.23 on the back of stable casino earnings, market share gains and the company’s potential to tap into the Japan market, bolstered by its net cash balance of $2.9 billion.
In FY18, tourist arrivals into Singapore also hit a new high of 18.5 million vs 17.4 million in FY17, mainly driven by ...
SINGAPORE (Jan 28): UOB Kay Hian is maintaining “overweight” on gaming with a “buy” call on Genting Singapore (GENS) at a $1.38 target price, or 10 times 2019 EV/EBITDA, on the notion that the integrated resort (IR) operator’s share price could gain momentum on its bidding for Japan’s IR concessions.
This comes as the research house expects GENS’s operational performance ...
SINGAPORE (Jan 16): RHB Reserch is maintaining its “buy” call on Genting Singapore with a target price of $1.23.
In a Wednesday report, RHB says, “We like Genting Singapore for its potential expansion into the Japan market and the upcoming reinvestment into Resorts World Sentosa (RWS), with more news flow expected in FY19.”
In 3Q18, the group reported a 46% increase in earnings to ...
SINGAPORE (Nov 16): RHB Research is maintaining its “buy” rating on Genting Singapore with a lower target price of $1.23 compared to $1.42 previously after updating DCF assumptions and rolling over the valuation base year to FY19.
At the share price of 93 cents, RHB thinks the stock is undervalued as it is trading at a discount to its five-year EV/EBITDA average of 10 times.
The revised ...
SINGAPORE (June 8): The historic Trump-Kim Summit is scheduled to be hold on June 12 at Sentosa Capella Hotel.
Also, prestigious hotels in Singapore, such as Shangri-La and St Regis, have also been marked as “special event areas”.
In a Thursday report, CGS-CIMB Research analyst Lim Siew Khee says, “We think the heightened security measures in the gazetted areas (Sentosa Island and ...